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Overview

Plan Information

  • Plan Year01/01/2019 — 12/31/2019
  • Date of Plan06/02/2000
  • Net Assets as of 12/31/2019 $1,593,901,972
  • Plan Number3
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2019

  • Active (Eligible) Participants5,169
  • Retired or separated participants receiving benefits98
  • Other retired or separated participants entitled to future benefits2,354
  • Subtotal7,621
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits40
  • Total7,661
  • Total number of participants as of 01/01/20197,359
  • Number of participants with account balances7,563
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address5301 Stevens Creek Blvd
  • CitySanta Clara
  • StateCA
  • Zip95051
  • Telephone(408) 345-8346
  • EIN77-0518772
  • Industry Code334500
  • Named AdministratorDawnette Blake

Audit Information

  • Audit StatusAudited
  • AuditorMoss Adams LLP
  • Auditor EIN91-0189318
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
3F Leased Employees Plan sponsor(s) received services of leased employees, as defined in Code section 414(n), during the plan year.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $15,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $395,908,255
Contributions $111,175,580
Cash Contributions $111,175,580
Cash from Employers $39,036,565
Cash from Participants $60,109,247
Others (including rollovers) $12,029,768
Noncash Contributions $0
Total Earnings on Investments $281,688,460
Total Interest $617,268
Interest-Bearing Cash $97,324
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $519,944
Interest from Other Investments $0
Total Dividends $8,380,461
Preferred Stock $0
Common Stock $1,317,009
Rents $0
Net gain (loss) on sale of assets $4,042,103
Aggregate Proceeds $63,443,508
Aggregate Carrying Amount $59,401,405
Total Unrealized Appreciation (depreciation) of assets $34,975,334
Real Estate $0
Other $34,975,334
Net investment gain (loss) from common/collective trusts $205,671,519
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $28,001,775
Other Income $3,044,215
Expenses $99,174,381
Total Benefit Payments $98,516,637
Directly to participants or beneficiaries, including direct rollovers $98,516,637
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $61,937
Certain deemed distributions of participant loans $7,220
Interest expense $0
Total Administrative Expenses $588,587
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $321,304
Other Administrative Fees $267,283
Net Income $296,733,874
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2019 12/31/2018 Change YOY
Total Assets $1,594,423,020 $1,289,978,373 23.60%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $1,162,148 $180,328 544.46%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $1,162,148 $180,328 544.46%
General Investments $4,262,084 $4,347,185 -1.96%
Interest-bearing cash $4,262,084 $4,347,185 -1.96%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $154,659,786 $126,699,071 22.07%
Preferred $0 $0 0.0%
Common $154,659,786 $126,699,071 22.07%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $10,176,844 $9,452,401 7.66%
Value of interest in common/collective trusts $1,095,793,210 $768,197,213 42.64%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $33,983,921 0.0%
Value of interest in registered investment companies $215,257,052 $347,118,254 -37.99%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $113,111,896 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $521,048 $415,417 25.43%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $521,048 $415,417 25.43%
Net Assets $1,593,901,972 $1,289,562,956 23.60%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Institutional

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Financial Engines Investment advisory (plan), Direct payment from the plan Advisor $321,304 $0 $321,304
Fidelity Investments Institutional Participant loan processing, Recordkeeping fees, Account maintenance fees Recordkeeper $267,283 $0 $267,283
Total $588,587 $0 $588,587

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Employee Benefit Index Fund Vanguard Fiduciary Trust Co DFE: Common/Collective Trust $231,026,716
Fidelity Contrafund Commingled Pool Fidelity Management Trust Company DFE: Common/Collective Trust $141,108,074
Blackrock Msci Acwi Ex-Us Index Non Blackrock Institutional Trust DFE: Common/Collective Trust $97,790,197
Vanguard Target Retirement 2025 Vanguard Fiduciary Trust Co DFE: Common/Collective Trust $84,569,650
Us Debt Index Fund Blackrock Institutional Trust DFE: Common/Collective Trust $82,839,095
Vanguard Target Retirement 2030 Vanguard Fiduciary Trust Co DFE: Common/Collective Trust $77,570,513
Vanguard Target Retirement 2035 Vanguard Fiduciary Trust Co DFE: Common/Collective Trust $63,088,071
Vanguard Target Retirement 2040 Vanguard Fiduciary Trust Co DFE: Common/Collective Trust $62,548,957
Vanguard Target Retirement 2020 Vanguard Fiduciary Trust Co DFE: Common/Collective Trust $61,230,998
Fidelity Low-Priced Stock Commingle Fidelity Management Trust Company DFE: Common/Collective Trust $49,009,068
Vanguard Target Retirement 2045 Vanguard Fiduciary Trust Co DFE: Common/Collective Trust $36,763,634
Vanguard Target Retirement 2050 Vanguard Fiduciary Trust Co DFE: Common/Collective Trust $31,068,021
Vanguard Target Retirement 2055 Vanguard Fiduciary Trust Co DFE: Common/Collective Trust $20,715,225
Vanguard Target Retirement 2015 Vanguard Fiduciary Trust Co DFE: Common/Collective Trust $18,221,541
Us Inflation Protected Bond Index State Street Global Advisors DFE: Common/Collective Trust $17,319,331
Vanguard Target Retirement Income Vanguard Fiduciary Trust Co DFE: Common/Collective Trust $13,825,506
Vanguard Target Retirement 2060 Vanguard Fiduciary Trust Co DFE: Common/Collective Trust $5,746,897
Vanguard Target Retirement 2065 Vanguard Fiduciary Trust Co DFE: Common/Collective Trust $1,351,716
Term Fund 2022 Goldman Sachs Asset Management DFE: 103-12 Investment Entity $0
Term Fund 2021 Goldman Sachs Asset Management DFE: 103-12 Investment Entity $0
Term Fund 2019 Goldman Sachs Asset Management DFE: 103-12 Investment Entity $0
Term Fund 2020 Goldman Sachs Asset Management DFE: 103-12 Investment Entity $0
Intermediate Core Fund Goldman Sachs Asset Management DFE: Common/Collective Trust $0
Term Fund 2018 Goldman Sachs Asset Management DFE: 103-12 Investment Entity $0
Total $1,095,793,210

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
The Prudential Insurance Company of America 1,512
EIN 22-1211670
Industry Code 68241
Contract Number 063247
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $0
Value in Separate Accounts at Year End $38,988,625
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Guaranteed Investment
Balance at the end of the previous year $37,242,939
Additions $3,328,999
Contributions Deposited during the year $2,300,000
Dividends and credits $0
Interest credited during the year $1,028,999
Transferred from separate account $0
Other $0
Total of Balance and Additions $40,571,938
Deductions $1,583,313
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $1,583,313
Balance at the end of the current year $38,988,625
Rga Reinsurance Company 1,512
EIN 43-1235868
Industry Code 93572
Contract Number AGLNT-0712-01
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $0
Value in Separate Accounts at Year End $35,946,580
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Guaranteed Investment
Balance at the end of the previous year $36,437,103
Additions $948,480
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $948,480
Transferred from separate account $0
Other $0
Total of Balance and Additions $37,385,583
Deductions $1,439,003
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $1,439,003
Balance at the end of the current year $35,946,580
Transamerica Premier Life Insurance Company 1,512
EIN 52-0419790
Industry Code 66281
Contract Number MDA01241TR
Contract Year 01/01/2019 — 12/31/2019
Value in General Account at Year End $0
Value in Separate Accounts at Year End $38,176,691
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Guaranteed Investment
Balance at the end of the previous year $38,633,808
Additions $1,066,013
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $1,066,013
Transferred from separate account $0
Other $0
Total of Balance and Additions $39,699,821
Deductions $1,523,130
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $1,523,130
Balance at the end of the current year $38,176,691